The Hindu : Karnataka / Bangalore News : `Opportunities good for business in Sudan'

Online edition of India's National Newspaper
Tuesday, Jan 09, 2007
ePaper

Karnataka

Karnataka - Bangalore

`Opportunities good for business in Sudan'

Staff Reporter

Sandalwood is among the popular items Sudan has been importing

BANGALORE: Indian Ambassador to Sudan Deepak Vohra has said that the business opportunities for Indians in the African nation were huge.

He was addressing members of the Federation of Karnataka Chamber of Commerce and Industry (FKCCI) here on Monday.

Risk

Making a comprehensive presentation on the economy and political situation in Sudan, Mr. Vohra said though business opportunities were plenty, the risk factors could not be ruled out.

India and Sudan had a long history of trade.

Its GDP in 2006 was estimated at $30 billion and its growth rate in 2006 was 10 per cent, and inflation was 8.5 per cent.

The country had imported $ 6.76 billion worth goods and exported goods worth $ 4.83 billion.

Sandalwood was among the popular items Sudan had been importing.

Its overall business transaction with India in 2005 was $ 317.84 million $ 650 million in 2006.

Business opportunities in areas such as infrastructure, agriculture, human resource development, information science etc. had been attracting many countries, including the U.S. to Sudan.

Caution

But Indian investors should exercise caution and patience as India had experienced delay and default in repayments in the recent past, he added.

FKCCI vice-president D. Muralidhar welcomed the gathering.

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